SANTA BARBARA, CA — (Marketwired) — 07/09/13 — (OTCBB: ZERO) (“STWA” or the “Company”), a developer of for oil and fuel delivery systems in the multi-billion dollar global energy market, announced today that Mark Stubbs has been elected to its Board of Directors. Mr. Stubbs, the Company–s 5th director and its 3rd independent director, will also serve as Chair of STWA–s Audit Committee.
Mr. Stubbs currently serves as Chief Financial Officer for London Stock Exchange listed –s Aftermarket Services Division, a leading global aviation services and aftermarket support provider. Prior to joining BBA in 2012, Mr. Stubbs served as Chief Financial Officer and Interim Chief Executive Officer for CallWave, Inc., which was then a NASDAQ-listed company and a global provider of enhanced telecommunications software and services. From 2005 to 2006, Mr. Stubbs was Chief Financial Officer of Sound ID, a privately held consumer electronics company. Prior to Sound ID, Mr. Stubbs held a number of executive positions including Vice President Global Supply Chain and Vice President and Managing Director EMEA (Europe, Middle East and Africa) at Somera, Inc., which at the time was a NASDAQ-listed company and a leading global provider of telecommunications infrastructure and services. Previously, Mr. Stubbs held a number of financial management positions at Kinko–s Inc., which has since been acquired by NYSE-listed FedEx. Mr. Stubbs earned a BA in Finance and MBA from Cal Poly San Luis Obispo and is a Certified Public Account (CPA).
“Mark brings valuable experience to STWA at this critical and exciting time in our Company–s development,” stated STWA President and CFO Gregg Bigger. “As a seasoned CFO with deep executive level experience, he has been through the process of scaling operations and revenue at a rapid pace in mission-critical global industries. STWA will benefit from his insight and financial experience as we move through our scale-up process.”
“With Mark coming on board, we believe STWA now meets the listing requirements specifically addressing the composition of our board of directors, to up-list our shares to a national senior exchange. As Chairman of our Audit Committee, he will provide invaluable experience in the realm of corporate governance and public company reporting,” commented STWA Chairman and CEO Cecil Bond Kyte.
AOT Viscosity Reduction Systems are a suite of commercial crude oil pipeline flow assurance products designed to be installed at pipeline pump stations in the upstream, gathering and midstream sectors.
AOT technology reduces the viscosity of crude oil without the need for heat, chemical or polymer additives. The reduction of viscosity holds key benefits to the energy production and transportation industry. The product holds advantages over currently adopted flow assurance technologies in use around the world today.
AOT has been independently verified and tested by numerous third party entities such as the United States Department of Energy. Test reports and related links are available on the Company–s website.
“Applied Oil Technology,” “AOT Midstream,” and “AOT” are copyrights and registered trademarks of STWA, Inc
STWA, Inc. develops and commercializes energy efficiency technologies that assist in meeting increasing global energy demands, improving the economics of oil extraction and transport, and reducing greenhouse gas emissions. The Company–s intellectual property portfolio includes 47 domestic and international patents and patents pending, which have been developed in conjunction with and exclusively licensed from Temple University. More information including a company Fact Sheet, logos and media articles are available at: .
This press release contains information that constitutes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Any such forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from any future results described within the forward-looking statements. Risk factors that could contribute to such differences include those matters more fully disclosed in the Company–s reports filed with the Securities and Exchange Commission. The forward-looking information provided herein represents the Company–s estimates as of the date of the press release, and subsequent events and developments may cause the Company–s estimates to change. The Company specifically disclaims any obligation to update the forward-looking information in the future. Therefore, this forward-looking information should not be relied upon as representing the Company–s estimates of its future financial performance as of any date subsequent to the date of this press release.
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